USD/CNH: Bears push towards 7.2600 – DBS
Source Fxstreet
USD/CNH has also stabilized around 7.26-7.27 ahead of FOMC, DBS FX & credit strategist Chang Wei Liang notes.
USD/CNH to break below 7.26-7.27
“PBOC has maintained its stable RMB policy with CNY fixings being kept near 7.13, even after it eased monetary policy in the last week. The 1Y MLF rate was cut by 20bps last Thursday to 2.30%, following a 10bps LPR cut.”
“China PMI releases tomorrow may give little respite for the RMB as activity looks to stay sluggish. A more durable downshift in USD/CNH will depend on a broad USD reversal, with Fed guidance this week being front and centre.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Natural Gas sinks to pivotal level as China’s demand slumpsNatural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It
Natural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It
Insights – On November 21, Chinese e-commerce giant Pinduoduo (PDD) will release its Q3 2024 earnings.
Billionaire Elon Musk recently raised funds for his two high-profile tech companies, xAI and Neuralink.
WTI eases below $103.50 as US, Iran reportedly seeking 45-day ceasefireWest Texas Intermediate (WTI), the US crude oil benchmark, is trading around $103.30 during the early European trading hours on Monday. The WTI price retreats after reports that the United States (US) and Iran are making a push for a 45-day ceasefire.
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $103.30 during the early European trading hours on Monday. The WTI price retreats after reports that the United States (US) and Iran are making a push for a 45-day ceasefire.
Crypto Weekly Radar: All eyes on Donald Trump’s ultimatum, US macroeconomic dataCrypto markets begin the week with mixed sentiment, with Bitcoin (BTC) trading above $69,000 following last week’s rebound. Still, markets remain cautious as traders weigh risks stemming from Donald Trump’s renewed threats toward Iran ahead of the ultimatum set for Tuesday.
Crypto markets begin the week with mixed sentiment, with Bitcoin (BTC) trading above $69,000 following last week’s rebound. Still, markets remain cautious as traders weigh risks stemming from Donald Trump’s renewed threats toward Iran ahead of the ultimatum set for Tuesday.
Related Instrument
